May 20, 2019
The FMA carried out a risk-based assessment of independent audit reports for reporting entities it supervises in February this year, targeting 69 reporting entities. The FMA supervises around 800 reporting entities, of whom roughly two-thirds define themselves as financial advisers.
May 12, 2019
Morgan DeVere Corporate Finance Limited (Morgan DeVere) has been convicted at the Wellington District Court on two counts of breaching the Financial Services Providers Act 2008 (FSP Act) for falsely claiming it was registered on the Financial Services Providers Register ( FSPR ). A copy of the judgment can be found here.
April 19, 2019
A New Zealand-based director of Morgan DeVere Corporate Finance Limited has been sentenced to 75 hours of community service for breaching the Financial Service Providers (Registration and Dispute Resolution) Act 2008. (FSP Act). The FMA alleges that the company stated it was registered on the Financial Services Providers Register (FSPR) after it had deregistered.
April 19, 2019
The Financial Markets Authority (FMA) has issued civil proceedings in the High Court against four individuals in relation to trading in Oceania Natural Limited. (ONL)The proceedings relate to alleged breaches of market manipulation prohibitions and the disclosure obligations in the Financial Markets Conduct Act 2013. The FMA is seeking financial penalties.
April 4, 2019
The Financial Markets Authority (FMA) has published an Anti-Money Laundering and Countering the financing of terrorism (AML/CFT) monitoring report setting out the areas requiring further attention by the management and boards of the reporting entities it supervises.
April 1, 2019
The FMA has published a guide for investors shares on the nuts and bolts of choosing, buying, owning and selling.The guide, Share this! deals with the steps involved in investing in shares as well as the potential risks, to help people decide whether shares are the right investment for them.
March 18, 2019
The Financial Markets Authority (FMA) is to remove the expiry dates for all licences issued under the Financial Markets Conduct Act 2013 in a process expected to be complete by the middle of 2019.
March 8, 2019
ANZ has sought leave to appeal the decision to the Supreme Court and to maintain confidentiality over the judgment. Some details in the judgment are redacted because of this.
February 24, 2019
A new online tool called Smart Investor Tool enables Kiwis to search and compare New Zealand investments such as KiwiSaver, shares, bonds and other types of managed products for the first time.
January 31, 2019
NZX and the Financial Markets Authority (FMA) have initiated an industry-led review of New Zealand’s capital markets. Capital Markets 2029 is designed to deliver a ten-year vision and growth agenda for the sector.
